CITE

    15 USC Sec. 77rrr                                           01/08/2008

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2A - SECURITIES AND TRUST INDENTURES
    SUBCHAPTER III - TRUST INDENTURES

HEAD

    Sec. 77rrr. Effect of prescribed indenture provisions

STATUTE

    (a) Imposed duties to control
      If any provision of the indenture to be qualified limits,
    qualifies, or conflicts with the duties imposed by operation of
    subsection (c) of this section, the imposed duties shall control.
    (b) Additional provisions
      The indenture to be qualified may contain, in addition to
    provisions specifically authorized under this subchapter to be
    included therein, any other provisions the inclusion of which is
    not in contravention of any provision of this subchapter.
    (c) Provisions governing qualified indentures
      The provisions of sections 77jjj to and including 77qqq of this
    title that impose duties on any person (including provisions
    automatically deemed included in an indenture unless the indenture
    provides that such provisions are excluded) are a part of and
    govern every qualified indenture, whether or not physically
    contained therein, shall be deemed retroactively to govern each
    indenture heretofore qualified, and prospectively to govern each
    indenture hereafter qualified under this subchapter and shall be
    deemed retroactively to amend and supersede inconsistent provisions
    in each such indenture heretofore qualified. The foregoing
    provisions of this subsection shall not be deemed to effect the
    inclusion (by retroactive amendment or otherwise) in the text of
    any indenture heretofore qualified of any of the optional
    provisions contemplated by section 77jjj(b)(1), 77kkk(b), 77nnn(d),
    77ooo(a), 77ooo(b), 77ooo(d), 77ooo(e), or 77ppp(a)(1) of this
    title.

SOURCE

    (May 27, 1933, ch. 38, title III, Sec. 318, as added Aug. 3, 1939,
    ch. 411, 53 Stat. 1173; amended Pub. L. 101-550, title IV, Sec.
    417, Nov. 15, 1990, 104 Stat. 2731.)

AMENDMENTS

      1990 - Subsec. (a). Pub. L. 101-550, Sec. 417(1), added subsec.
    (a) and struck out former subsec. (a) which read as follows: "The
    indenture to be qualified shall provide that if any provision
    thereof limits, qualifies, or conflicts with another provision
    which is required to be included in such indenture by any of
    sections 77jjj to 77qqq of this title, inclusive, such required
    provision shall control."
      Subsec. (c). Pub. L. 101-550, Sec. 417(2), added subsec. (c).